Wealth and Asset Management
HSBC takes charge on Chinese real estate and warns of wealth slowdown
HSBC set aside $451mn as it braced for more defaults in the troubled Chinese real estate sector and warned of a slowdown in wealth management due to Hong Kong’s restrictive “zero Covid” strategy, marring otherwise positive fourth-quarter earnings. The bank has made growth in wealth management a cornerstone of its…
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Click here to read the full story: Financial Times